Currently, banks and other credit organizations offer various car loan programs. However, most of them provide loans for the purchase of cars.
Instructions
Step 1
Do not think that such a service for obtaining a loan for the purchase of a truck for a bank is a rarity. It's just that this type of lending is in less demand. After all, trucks are more often purchased by large and medium-sized companies engaged in the transportation of goods. If you want to buy a truck, you can do it in one of three ways: on a loan from the manufacturer, using a bank loan, or through leasing. When buying a car through a bank, you will need to contact a loan officer and provide a package of documents required for issuing funds. As a rule, banks require standard documents regarding your financial and legal situation, as well as a preliminary sales contract for the purchased truck.
Step 2
The procedure for granting a loan through a bank is quite simple. After you collect all the necessary documents, your application will be considered by the bank's credit commission. If a positive decision is made, you will be offered to pay an advance payment for the purchased car. As soon as the bank makes sure that you have deposited part of the funds for the car from "your own pocket", the balance of funds will be transferred to your account or to the account of the truck seller - the amount of the loan, which you will have to repay on time.
Step 3
Please note that the truck you are purchasing is pledged to the bank as collateral for the loan, unless otherwise provided by the terms of the contract. The disadvantage of bank lending is the need to pay a down payment. Almost all banks require an advance payment of 10-30% of the original cost of the truck.
Step 4
You can also purchase a truck using the vehicle supplier's loan program. In this case, the interest rate on the loan may be even lower than in the bank, but the down payment will most likely remain. In principle, lending through a provider is no different from bank lending. In this situation, the supplier transfers your debt to the bank with which he has an agreement, which means that you will return the money to the credit institution.
Step 5
If you do not have funds for the initial payment, then you can lease a truck. True, this form of transaction will cost more, because you get a ready-made car for use, gradually paying the lessor. In other words, this is the use of a truck on a lease basis with the subsequent transfer of ownership after the final lease payment is made. In this case, you will have to pay interest on leasing, which will depend on the lease term, your financial condition, and the type of equipment.
